12-Month Programme to Advance Georgina IOCG Target

Alien Metals Limited

17 August 2026

 

17 August 2026

Alien Metals Limited

("Alien", "Alien Metals" or the "Company")

12-Month Work Programme to Advance Georgina IOCG Targets

Alien Metals Limited (AIM: UFO), a minerals exploration and development company, is pleased to provide its 12-month exploration work programme for the Company's 100%-owned Georgina Basin Iron-Oxide Copper-Gold ("IOCG") Project in the Northern Territory, Australia (the "Project"), further to the Company's announcement of 16 July 2026.

Highlights:

·	Systematic assessment and ranking of more than 90 conceptual IOCG targets across the approximately 2,500 km² Project.
·	Detailed technical review and modelling planned for the three advanced prospects at Leichhardt East, Leichhardt West and Banks.
·	Targeted gravity surveys and geophysical inversion modelling designed to refine additional high-priority anomalies and advance them towards drill-ready status.
·	Engagement with Traditional Owners regarding access to highly prospective IOCG tenure.
·	Applications planned for the BHP Xplor programme and Northern Territory Government exploration co-funding grants.
·	Updated Project-wide target ranking and a decision on the next phase of drilling targeted for June 2027.
·	Expected expenditure of approximately £155,000 and this includes all of the fixed monthly consulting fee to Venari Minerals to complete the Project work streams prior to drilling, funded from the Company's existing cash resources.
·	The Company's video presentation on Georgina IOCG Targets by Project Director Matt Healy is available at: https://www.alienmetals.uk/investors/media/

Vince Fayad, Chief Executive Officer of Alien Metals, said:

"Alien has completed three transactions since early 2025 as part of its strategy to advance and crystallise value from its diversified metals portfolio. The completion of the Georgina Basin IOCG acquisition, together with the further strengthening of Alien's Board, management and technical capability, marks the beginning of a new phase for the Company. Our immediate priority is to apply a disciplined and commercially focused approach to the portfolio by advancing high-impact opportunities, allocating capital selectively, working with experienced partners and seeking to crystallise value where appropriate.

"The Georgina project provides Alien with a substantial copper-gold exploration opportunity supported by significant prior exploration expenditure, an extensive technical dataset, more than 90 conceptual IOCG targets and three advanced prospects. Our 12-month programme is designed to systematically assess and rank these targets, refine the highest-priority anomalies and establish a technically robust pipeline of drill-ready opportunities while preserving capital.

"At the same time, the Company retains meaningful exposure to iron ore, silver, copper and platinum-group metals through its wholly owned assets, joint ventures and listed equity interests. We intend to assess each asset on its merits and pursue the pathway that offers the strongest risk-adjusted outcome for shareholders."

Overview

The Company intends to systematically advance the Georgina Basin IOCG Project, commencing with a comprehensive technical review and Project-wide ranking of the identified prospects and targets, including those identified by international resources consulting group SRK Consulting. This work will inform the prioritisation of subsequent field exploration and potential drilling.

The prospects across the Project are at various stages of technical advancement. While Leichhardt East, Leichhardt West and Banks are considered drill-ready (see Figure 1), other targets require targeted geophysical surveys or additional modelling to refine their scale, geometry and priority. Certain exploration licence applications will also require engagement with Traditional Owners before the tenure can progress towards grant. Potential external funding opportunities that may be available include the BHP Xplor programme and Northern Territory Government exploration co-funding grants.

The 12-month work programme has been designed to align with the November-to-March wet season, preserve capital and generate a systematically ranked pipeline of high-quality targets for potential future drill testing.

Figure 1. The Georgina IOCG project highlighting the central tenements which contain the three advanced targets: Leichhardt East, Leichhardt West and Banks prospects.

Key Targets

The three advanced targets comprise the Leichhardt East, Leichhardt West and Banks prospects. Previous drilling at these prospects returned geochemical anomalism, including reported uranium values of up to 0.23% U₃O₈, elevated copper over broad intervals and the IOCG pathfinder elements bismuth and silver (see the Company's announcement of 7 July 2026). These geochemical anomalies are associated with strong, unexplained gravity anomalies that indicate the presence of dense subsurface rocks considered prospective for IOCG-style mineralisation.

The Ranken Project is located in the eastern part of the Georgina Basin Project and is interpreted to contain geological units comparable to those hosting the world-class Mount Isa copper and lead-zinc-silver deposits. Recent drilling by Teck in the surrounding region targeted sediment-hosted base-metal mineralisation, and the associated technical reports have recently become publicly available. The Company will review these results and incorporate any relevant findings into its exploration planning for Ranken.

Exploration Licence Application 32284 (Figure 3) is interpreted to contain rocks of the Warramunga Formation, which hosts high-grade gold and copper deposits in the Tennant Creek Mineral Field. SRK Consulting has also identified multiple zones of magnetic alteration, interpreted fluid pathways and associated gravity-high anomalies within the area. The Company intends to commence engagement with the relevant Traditional Owners regarding an access agreement to facilitate future exploration, subject to the grant of the licence and receipt of all required approvals.

Figure 2. Typical landscape in the Central IOCG project area is flat and dominated by shrubby sparse vegetation, requiring little earthworks to create access tracks and drill pads

Exploration Funding Opportunities

The Company intends to apply for two potential external funding programmes: BHP Xplor and the Northern Territory Government's exploration co-funding grants.

BHP Xplor is a global accelerator programme operated by BHP that supports selected early-stage mineral exploration companies. Successful applicants may receive equity-free funding of up to US$500,000, together with mentoring and technical support from BHP specialists.

Through its Resourcing the Territory programme, the Northern Territory Government provides co-funding grants to successful applicants for eligible geophysical surveys and exploration drilling. Grants may fund up to 50% of eligible programme costs, subject to a maximum grant of A$150,000, with the remaining costs funded by the applicant.

The Company believes that elements of the Georgina Basin work programme may be eligible for partial funding through [both] these programmes and intends to submit applications to both BHP Xplor and the Northern Territory Government.

Figure 3. Geological map of East Tennant with magnetic alteration, structure and gravity highs

Next Steps

The Company has commenced a project-wide review and ranking of the Georgina Basin prospects, from early-stage opportunities through to the three advanced targets. The planned programme includes geophysical modelling, targeted gravity surveys, the review of recently released third-party exploration data and engagement with Traditional Owners regarding exploration licence applications over Aboriginal freehold land.

·	August-September 2026: Prepare and submit an application for the 2027 BHP Xplor programme, subject to confirmation of the final application timetable.
·	September-October 2026: Commence engagement with the relevant Traditional Owners regarding potential access arrangements for Exploration Licence Applications 32284 and 32965.
·	October 2026: Review recently released open-file reports relating to exploration undertaken by Teck near the Ranken Project.
·	November 2026: Review open-file reports relating to exploration undertaken by Red Metal near the magnetic and gravity-high anomaly in the northern part of EL32282.
·	Q1 2027: Complete the technical review and modelling of the advanced Leichhardt East, Leichhardt West and Banks prospects.
·	Q1 2027: Undertake geophysical inversion modelling at the Ranken Project to refine density anomalies beneath areas of interpreted thinner cover.
·	Q1 2027: Prepare and submit at least one application for Northern Territory Government exploration co-funding, subject to eligibility and confirmation of the application timetable.
·	Q2 2027: Conduct targeted gravity surveys to refine priority gravity anomalies.

The body of work outlined above is expected to total approximately A$300k (approximately £155k) and will be funded from the Company's existing cash resources. This cost includes 100% of the monthly fixed retainer to Venari Minerals.

By June 2027 the Company expects to have completed a full technical review of 90+ conceptual exploration targets, sufficient additional gravity surveying and geophysical modelling to have a number of advanced exploration targets, as well as a pipeline of lower-order prospects. All prospects and targets will be ranked in order to determine the next phase of exploration, including the priority and timing of potential drilling.

For further information, please visit the Company's website at www.alienmetals.uk or contact:

Alien Metals Limited

Vince Fayad

Email: [e-mail]

Strand Hanson (Financial and Nominated Adviser)

James Harris / James Dance / Edward Foulkes

Tel: [phone]

Turner Pope (Broker)

Andy Thacker / Guy McDougall

Tel: [phone]

IFC Advisory (Financial PR and Investor Relations)

Tim Metcalfe / Graham Herring / Zach Cohen

Tel: [phone]

Notes to Editors

Alien Metals Limited is a minerals exploration and development company quoted on the AIM market of the London Stock Exchange (AIM: UFO). The Company follows a balanced strategy focused on advancing and strengthening its asset portfolio through targeted technical work and project development, while evaluating partnerships, joint ventures and selective monetisation opportunities to enhance shareholder value. Alien will also continue to consider carefully selected acquisition opportunities consistent with the Board's disciplined investment criteria.

Alien's 100%-owned Georgina Basin IOCG Project comprises approximately 2,500 km² of tenure in the East Tennant region of the Northern Territory. The Project includes seven granted exploration licences and three exploration licence applications, an extensive historical technical dataset, more than 90 conceptual IOCG targets and three advanced prospects associated with significant gravity anomalies.

Alien additionally retains exposure to two advanced precious and base metal assets in the Pilbara. At Munni Munni, one of Australia's largest PGM systems, a historical estimate of 2.2 Moz¹ of platinum-group metals and gold has previously been reported. The Company has completed its partial asset sale and joint venture transaction with GreenTech Metals Ltd, under which Alien retains a 30% interest, free-carried to completion of a bankable feasibility study, and also holds 37.9 million shares in GreenTech Metals Ltd. Alien, through a wholly owned subsidiary, also retains a 30% interest in the Elizabeth Hill Silver Project pursuant to a joint venture with Crest Silver Pty Ltd, a wholly owned subsidiary of West Coast Silver Limited. The joint venture encompasses the Elizabeth Hill Mining Lease M47/342, which produced some of Australia's highest-grade silver ore during the late 1990s. Alien's 30% interest is free-carried until West Coast Silver announces a Decision to Mine. Alien also holds 30.5 million shares in West Coast Silver Limited, providing both direct project exposure and equity participation in the project's ongoing exploration and development.

Competent Persons' Statements

The information in this announcement relating to the Georgina Basin Project is based on information compiled by Mr Matthew Healy, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy (AusIMM Member number 303597). Mr Healy is Project Director of Alien Metals and is eligible to participate in share-based incentive schemes of the Company. Mr Healy has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (JORC Code). Mr Healy consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

 

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